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Author Topic: Are Most Projects Scam?  (Read 1029 times)
bsalami
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August 06, 2018, 03:57:03 PM
 #1

I just joined the cryptocurrency space and I find it hard to take in all the negative things I read on this forum,  are most projects really scam and what are the best ways to safely enjoy Cryptos?
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August 06, 2018, 04:05:33 PM
 #2

Some project are Scam in the market i must say.. Is very frustrating to spend some hard dollars to purchase an ICO and later discover is a Scam.
One of the way to identify a good project is to study the team behind the project by studying their track records and the vision behind the coin

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August 06, 2018, 04:10:17 PM
 #3

There are some legit projects you can find around, but to do that, you need to spend your time to learn about crypto currency and blockchain, which will help you to make a good decision on choosing the good project.

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August 06, 2018, 04:13:24 PM
Merited by Leonard2016 (1)
 #4

Take my advice as a guide to verifying any ICO:
1. On preico, the team must have a contract for automatic transfer of funds with prescribed conditions for early investors - not handles like many do, namely those prescribed in the smart contract - otherwise the collected funds can simply enrich the funders or conditions will change during the play - cases of lots.
2. The contract for preIOO should be part of a large ICO contract - not by different coins - it is not safe in terms of vulnerabilities and withdrawals.
3. The contract for preIOO and then the ICO should be registered lower and upper barrier - if this is not the team does not know what it wants - just a scam.
4. The contract for ICO should be escrow of the funds received as a result of placement - it can be a frieze or multisec with a voting condition. This will give you a guarantee against the expenditure of funds earlier than the team completed the previous stage.
5. In the contract, an unconditional refund should be prescribed in the event that the lower limit of the collected pool is not reached. It is in the contract and not in the white book, if it is not - scum.
6. All contracts must be posted on GithHub, this will enable third-party developers to check the contract for the vulnerability if the team has not taken care and before the ICO has not posted a bounty on the vulnerability.
7. The contract must specify the conditions for the team and for the bounty.
8. The contract must specify the conditions for not traded tokens - with clearly defined deadlines.

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August 06, 2018, 04:14:24 PM
 #5

I believe most of them are scams. To safely enjoy crypto, you have to earn a lot of knowledge in this space. Always do your own research and invest in knowledge, in that way you will be less prone to scams.

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August 06, 2018, 04:17:46 PM
 #6

I'd not call them a straight forward scam but most of them are executed without any prior preparation and real world experience.
Most of them venture towards a never done feast and misses out on simple technical and legislative hurdles.
For example anything promising a VISA/MASTER CARD support without actually contacting them is surely going to be a scam.

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August 06, 2018, 04:18:20 PM
 #7

As I know lot of people here doesn't know what that "scam" means and they're claiming "a scum" to any project even if it's felt due to bad investments or other reasons
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August 06, 2018, 04:30:59 PM
 #8

now there are so many new projects, so it is very difficult to distinguish between real projects and which projects are scam. You can still enjoy Crypto and get profit in the trading market by buying when prices fall, and selling when prices increase.

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August 06, 2018, 04:35:35 PM
 #9

I cam say majority of the ICO nowadays are scam and I am very much so jealous to all who came here ahead from us that once enjoyed the favor of the new born system. Although there are still real ICO out there but due many scam ICO that seems so attractive we can not find the real one easily. It really need time for that, so a person without without patience is not fit in this place

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August 06, 2018, 04:44:40 PM
 #10

I just joined the cryptocurrency space and I find it hard to take in all the negative things I read on this forum,  are most projects really scam and what are the best ways to safely enjoy Cryptos?

You can always invest in coins that are in the top ten and have a long time in the market, typically Bitcoin, Ether, NEO, Stellar, ... These are also the ones that can be used in real world.

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August 06, 2018, 04:47:44 PM
 #11

I just joined the cryptocurrency space and I find it hard to take in all the negative things I read on this forum,  are most projects really scam and what are the best ways to safely enjoy Cryptos?

Yes unfortunately lot's of projects turn out to be scams or are just useless which make them have no value which turns into people calling it a scam again.

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August 06, 2018, 04:49:28 PM
 #12

unfortunately YES. there are too many scam projects in cryptos.
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August 06, 2018, 05:02:00 PM
 #13

I just joined the cryptocurrency space and I find it hard to take in all the negative things I read on this forum,  are most projects really scam and what are the best ways to safely enjoy Cryptos?

A lot of ICO is unfortunately a scam. However, a large number fails because they are not able to collect a soft cap, although they are not scams. You really have to spend a lot of time to join a good project that has a chance to succeed. And scammers are getting better and better at what they do.

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August 06, 2018, 05:03:04 PM
 #14

in my opinion, from many projects there are some who are scams.
so when you are a gift hunter ...
must be more careful in choosing a bounty.
because now there are many ICOs but they don't reach the Hard cap so the project just stops

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August 06, 2018, 05:07:43 PM
 #15

I just joined the cryptocurrency space and I find it hard to take in all the negative things I read on this forum,  are most projects really scam and what are the best ways to safely enjoy Cryptos?

Yes unfortunately lot's of projects turn out to be scams or are just useless which make them have no value which turns into people calling it a scam again.

for now there are indeed many scam projects in circulation, but not all of them are also scams, only a few, because at present the project is sufficiently developed so that many have also misused it.

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August 06, 2018, 05:11:23 PM
 #16

I do not think that most projects count on the fact that you are deceived, just people want to realize their ideas, but also how in any startup problems arise. If you look at the real business, then there is not everything as rosy as it might seem from the first glance, there are also failures and ups there.

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August 06, 2018, 05:12:30 PM
 #17

Many projects are scam. But there are also projects that simply couldn't raise soft cap in the conditions of a market fall. If you talk about ICO.

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August 06, 2018, 05:12:35 PM
 #18

I just joined the cryptocurrency space and I find it hard to take in all the negative things I read on this forum,  are most projects really scam and what are the best ways to safely enjoy Cryptos?

At present there are so many projects that end in scams, therefore we must be more selective in participating in a project, many considerations must be considered and many aspects of the project that we need to review. However, we cannot know at the beginning whether the project is a scam or not, we can only predict it, therefore experience is needed.

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August 06, 2018, 05:13:21 PM
 #19

ICO space is congested now, most of the project are based on an existing idea with enhanced scalability. It's hard to say which one is good and scam. Need lot of research before signing up for the ICO, check the team behind it and thier credibility , check the idea of the project and see if they have any working platform, check the partnership and  the whitepaper.

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August 06, 2018, 05:22:41 PM
 #20

Some are scams, in my experience, try to look for their website: roadmap, application, whitepaper, their team profiles and how their team respond to the community (ex: telegram)! Good luck! Grin

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